Below are transactions that took place in Placid Company during the past year:a. Equipment was purchased.b. A cash dividend was declared and paid.c. Accounts receivable decreased.d. Short-term investments were purchased.e. Equipment was sold.f. Preferred stock was sold to investors.g. A stock dividend was declared and issued.h. Interest was paid to long-term creditors.i. Salaries and wages payable decreased.j. Stock of another company was purchased.k. Bonds were issued that will be due in 10 years.l. Rent was received from subleasing office space, reducing rents receivable.m. Common stock was repurchased and retired.Required:Prepare an answer sheet with the following headings:TransactionActivityOperating Investing FinancingNotReported Source Use
Below are transactions that took place in Placid Company during the past year:
a. Equipment was purchased.
b. A cash dividend was declared and paid.
c.
d. Short-term investments were purchased.
e. Equipment was sold.
f.
g. A stock dividend was declared and issued.
h. Interest was paid to long-term creditors.
i. Salaries and wages payable decreased.
j. Stock of another company was purchased.
k. Bonds were issued that will be due in 10 years.
l. Rent was received from subleasing office space, reducing rents receivable.
m. Common stock was repurchased and retired.
Required:
Prepare an answer sheet with the following headings:
Transaction
Activity
Operating Investing Financing
Not
Reported Source Use
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